This week’s App of the Week will take the guesswork out of just about everything you do for your business. Whether it’s advertising, marketing, or sales, it can be difficult to measure all your efforts consistently and accurately to see what’s working and what’s not. Without this information, or accurate knowledge of this information, you could make a business decision that could mean better or worse for your endeavors. If you’re are an independent store owner who already has too much to juggle in your business, then you’ll benefit from Thrive, this week’s App of the Week.
Thrive is specifically designed for independent store owners, helping to keep track of sales and your advertising and marketing revenue. Owners can use Thrive to set goals for their business, and then measure the progress of the business in meeting those goals. Thrive tracks everything from the ROI on your advertising campaigns, to your average transaction value, to how many visitors you get each day and how often they return. that kind of information is vital to running and to building a business.
“Thrive helps me understand the quality of my stock. We use Thrive to track conversion rate, and when we see that it’s going down we start to wonder, ‘Do we have the right product?,'” said Carol-Ann Garland, Thrive user and owner of apparel shop Frenchy’s. “We then do a complete review of stock, identify the issues, resolve them, and what happens? Conversion rate goes up. That’s really rewarding to see as a business person and for your staff. You can say to your staff, ‘I know it was hard work but look what it did,’ and show them the results.”
Currently in beta testing, Thrive only costs $20 per month. Once the app is out of beta testing, the monthly fee will rise to $49.99 per month. The best part about Thrive is that the app provides tailored recommendations to your business to help it improve. For example, if you find that your daily traffic is excellent, but your conversion rate isn’t so great, then Thrive might recommend you pull away from marketing a little bit and focus on customer service, or pricing. Essentially, Thrive will recommend something to boost that conversion rate, especially since you already have a lot of people coming through your store. That way, you’re not wasting money on advertising, but spending time on targeting your ideal customers to make money.